EDC eyes $100B exports by 2016-A A +A
Tuesday, August 19, 2014
THE Export Development Council (EDC), composed of representatives from the government and private sector, is eyeing an export target of $100 billion by 2016, the Department of Trade and Industry (DTI) said Tuesday.
The target was contained in the draft three-year Philippine Export Development Plan (PEDP), DTI Undersecretary Ponciano Manalo Jr. said.
“The Philippine Export Development Plan or PEDP will transform the Philippines into an exporting nation that will fuel growth of our SMEs (small and medium enterprises), creating more jobs and competitive products that the Philippines can offer,” he said.
The PEDP 2014-2016 is the export-sector component of the Philippine Development Plan 2011-2016, the government’s primary economic and social development program.
It outlines the export targets and product and market strategies to boost export growth within the three-year period in consideration of the problems affecting local and international markets.
“As a main trade policy document, the PEDP underscores strategies consistent with the AEC (Asean Economic Community), an important one of which is the unified international trade strategy framework, with industry competitiveness as its foundation. The goal is to capacitate the export sector so that it can maximize its participation in the global value chain,” Manalo said.
“With the upcoming Asean integration in 2015, Philippine products will need to be more competitive and accessible. The export industry must participate in high-value activities and become more diversified and sophisticated,” he added.
Based on the preliminary report of the Philippine Statistics Authority, merchandise exports grew 8.3 percent year-to-date from $27.5 billion posted in the first semester of 2013 to $29.8 billion in the same period in 2014.
Philippine exports of electronic products increased by 4.7 percent year-on-year, while non-electronic products increased at more than double rate at 10.8 percent for the first semester of the year. (SDR/Sunnex)